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Retail engagement platform Netree on Tuesday called for further rationalisation of the goods and services tax (GST) by restricting the number of tax slabs at two to promote the retail sector growth as too many slabs create compliance burden for small and medium retailers.
“Rationalisation of GST should be done with just one to two plainer slabs along with simplification on account of filing of returns,” Desi Valli, founder and CEO of Netree, said in a statement.
He also urged the government to look at simplifying the procedures for filing returns.
Too many slabs create compliance burden for small and medium retailers, he said.
“As we need to deal with all the stakeholders in retail value chain, simplification of procedure will make the compliance easier and error free,” Valli said.
Further, Valli demanded tax incentives on digital payments for small and medium retailers to be announced in the forthcoming budget to promote digital transactions.
“Government must propose separate funds to organise start-up meets to enable various stakeholders to meet and explore opportunities,” he added.
(With PTI Inputs)

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Commerce and Industry Minister Suresh Prabhu has asked states to set up a nodal agency dedicated for the implementation of the agriculture export policy. In the past month, the Cabinet also approved the agriculture export policy with an aim to double farm shipments to $60 billion by 2022. The commerce ministry had mentioned that it had “exhorted all state governments to set up a nodal agency dedicated for the implementation of the policy.” The policy also covers other areas, including research and development, clusters, logistics and transportation.
The statement also said quoting Prabhu that, “workshops like these will help to identify bottlenecks, get feedback and suggestions to improve and overcome difficulties in the implementation of the policy.”
The objective of the policy is to double India’s agricultural exports from the present $30 billion to $60 billion by 2022 and reach $100 billion in the near future. This policy would diversify export basket, and would boost high value and value added agricultural exports.
The policy also said, “agriculture is the key pillar of the Indian economy and there is an urgent need for reform in this sector, where 60 per cent of the population is dependent. Diversification of the agriculture export basket and diversification of markets where exports can take place is the need of the hour. Average cost of production will have to be reduced so that India’s agriculture produce can compete in the international market,” it added.
Reports say, that during the workshop, an MoU was signed between Agricultural and Processed Food Products Export Development Authority (APEDA) and National Cooperative Development Corporation (NCDC) to meet the objectives of the policy.